Latest Updates

FHLBank Indianapolis recently announced that 17 Indiana and Michigan businesses were awarded the bank’s Elevate Small Business Grant. Now in its second year, Elevate was developed to strengthen our communities and encourage Indiana and Michigan small businesses to further develop their relationship with an FHLBank Indianapolis member financial institution.

Bottle Works Lofts, a new affordable housing development in Fort Wayne, Indiana, recently celebrated the completion of its main building with a ribbon cutting ceremony that included the Mayor of Fort Wayne, Tom Henry; the developers of the project, Miller Valentine; and other community partners.

The Federal Home Loan Bank of Indianapolis is pleased to announce funding availability for the Homeownership Initiative Programs, including the Homeownership Opportunities Program (HOP), the Neighborhood Impact Program (NIP) and the Accessibility Modifications Program (AMP).

The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) awarded David Watkins, Community Development Manager at Level One Bank, with the 2019 Community Spirit Award. The Community Spirit Award honors individuals that show an outstanding dedication to affordable housing and community economic development.

Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) is now accepting nominations for vacancies on the bank’s Affordable Housing Advisory Council (AHAC). To make a nomination, complete and return the nomination form. To be considered for seats on the Council that are expiring at the end of 2019, nominations must be received by September 30, 2019. We will have one vacant Michigan seat at the end of 2019 and are accepting nominations for individuals from both Michigan and Indiana.

At their January 24, 2019 meeting, the FHLBank Indianapolis Board of Directors approved the 2019 Affordable Housing Program (AHP) Implementation Plan. The current 2019 AHP Implementation Plan is now posted on our website.

During these one-day workshops, you will learn about updates to the Affordable Housing Program, Homeownership Initiatives, and the community and economic development programs FHLBank Indianapolis will offer in 2019. There will be ample time provided to review program changes and ask any questions you may have.

On November 15, 2018, the Board of Directors for the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) approved the 2019 Community Lending Plan. The plan includes information regarding market research about the district, descriptions of how FHLBank Indianapolis will meet the identified needs and opportunities, stakeholder engagement requirements, and performance goals for 2019.

The Affordable Housing Advisory Council (AHAC) of the Federal Home Loan Bank of Indianapolis announces the election of Erika E. Scott to a three-year term on the AHAC effective January 1, 2019. Scott is Vice President of Development at Herman & Kittle Properties, Inc in Indianapolis, IN. Scott was elected by the FHLBank Indianapolis Board of Directors to a three-year term.

The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) recently announced the award of more than $12.6 million in Affordable Housing Program (AHP) grants to support the funding of the acquisition, construction, or rehabilitation of properties for use as affordable rental or homeownership. During 2018, FHLBank Indianapolis received 55 applications for AHP and awarded grants of up to $500,000 each to 28 affordable housing developments in Indiana and Michigan. In total, the AHP grants awarded will help to create an additional 1,083 units of affordable housing.

In the last week of August 2018, former President Jimmy Carter and his wife Rosalynn Carter brought their Carter Work Project to Habitat for Humanity of St. Joseph County in Mishawaka, Indiana. Each year, the Carter Work Project brings dozens of skilled workers and recruits hundreds of volunteers to build homes in one city or region. This year's event in Mishawaka built 22 new homes for low-income families and renovated or repaired many more.

Funding for the FHLBank Indianapolis Disaster Recovery Program (DRP) is still available, with $230,108 remaining. On March 23, 2018, the FHLBank Board of Directors approved the activation of this program following the disaster declaration after significant flooding in Indiana and Michigan.

The deadline for submitting applications for this year's round of 2018 Affordable Housing Program (AHP) grants closed on August 13. During the 2018 application season, FHLBank Indianapolis members teamed up with not-for-profits, developers, and community partners to apply for grants of up to $500,000 each from the bank's 2018 AHP allocation of $13.1 million. In total, our members submitted 55 applications with a total request amount of around $24 million.
AHP awards will be announced on November 15.

FHLBank Indianapolis recently announced that 11 Indiana and Michigan businesses were awarded the bank's Elevate Small Business grant. 2018 was the inaugural year for the Elevate program, which saw more than 92 small businesses partner with local financial institutions to compete for grants of up to $25,000 each to use towards capital expenditures, workforce training, and other business needs.